the 🦅EGL🦅 project

the Ethereum Gas Limit (🦅EGL🦅) project passes control over the gas limit ("blocksize") back to the community

first-of-it's-kind governance over ETH itself

[the 🦅EGL🦅 project @ETH_EGL]

After a long consideration we decided to sunset the EGL project

Here's why 👇

(Genesis participants will receive the ETH they staked)

https://t.co/ImMh7gVJEB

[the 🦅EGL🦅 project @ETH_EGL]

We have successfully sent all 💯% of the ETH staked back to the Genesis participants

@CoinList *just* received the refunded ETH of their users, and their great team will handle it from their end

So long, and thanks for all the 🐟

[the 🦅EGL🦅 project @ETH_EGL]

We have successfully updated the EGL smart contract, and withdrew the ETH staked in the EGL Genesis

We expect to send the ETH back to the Genesis participants in the next few days

[the 🦅EGL🦅 project @ETH_EGL]

We have successfully updated the EGL smart contract, and withdrew the ETH staked in the EGL Genesis

We expect to send the ETH back to the Genesis participants in the next few days

[the 🦅EGL🦅 project @ETH_EGL]

After a long consideration we decided to sunset the EGL project

Here's why 👇

(Genesis participants will receive the ETH they staked)

https://t.co/ImMh7gVJEB

[the 🦅EGL🦅 project @ETH_EGL]

@enesforty The ETH had been locked in the balancer pool this entire time
Nothing had been done with it

[the 🦅EGL🦅 project @ETH_EGL]

After a long consideration we decided to sunset the EGL project

Here's why 👇

(Genesis participants will receive the ETH they staked)

https://t.co/ImMh7gVJEB

[the 🦅EGL🦅 project @ETH_EGL]

@Phmip03373378 Yes

[the 🦅EGL🦅 project @ETH_EGL]

@yanjuanpiaob also, we asked us to let us make the announcement first, which also allows them to pint their users to our blog post

[the 🦅EGL🦅 project @ETH_EGL]

@yanjuanpiaob We're in close contact with Coinlist

Coinlist can't tell you when you will receive it, since they are waiting on us to deliver them your ETH back, so it's really not their fault

We will give a timeline soon (should be very short!) - we want to make sure we do it right and safe

[Steph Smith @stephsmithio]

You didn't think I'd get through this entire thread w/o crypto, did you?

The maximalists must be sweating. 😅

💡 Crypto adoption closely mirrors internet adoption minus a few decades. This trajectory predicts 1B users by 2027.

Others peg as soon as 2023.

h/t @AzazelAyers

[the 🦅EGL🦅 project @ETH_EGL]

@bcmakes 🙏

[the 🦅EGL🦅 project @ETH_EGL]

@sedCapital @uriklarman @0xtuba @Darrenlautf @douglasadams Yes.
It’s the right thing to do (even if it costs us $ out of our own pocket)

[the 🦅EGL🦅 project @ETH_EGL]

@sedCapital @uriklarman @0xtuba @Darrenlautf @douglasadams https://t.co/ImMh7gVJEB

[the 🦅EGL🦅 project @ETH_EGL]

@0xtuba Now you’re just asking for it 😁
Another ⛈ in 3.. 2.. 1..

[Rafael @Corvo_Arkhen]

Maybe one of the greatest "out of radar" projects so far.

[the 🦅EGL🦅 project @ETH_EGL]

What have we been up to?
Right here 👇

https://t.co/oUpNSskSgz

[the 🦅EGL🦅 project @ETH_EGL]

.@MicahZoltu was kind enough to point out we did not address his concern 🙏

We appended an "EDIT" section trying to address it, where we argue that obscurity comes at a high price and provides little security

[the 🦅EGL🦅 project @ETH_EGL]

We took the time to address the concerns brought up by core devs honestly and to the point.

here's the result
https://t.co/Zb0EmmzPze

[BNB Chain @BNBCHAIN]

BSC Project Spotlight: @bloXrouteLabs

https://t.co/gWG78nnBO7

[PhABC @PhABCD]

Short thread on why I accepted to participate in the EGL experiment.

TL;DR - if things go bad, it will push the community to adopt EIP-3756 (or strict equality version like EIP-3382). If it goes well, then this is new data for miners to help choose what gaslimit they should use.

[the 🦅EGL🦅 project @ETH_EGL]

@luigyGT @PhABCD @quentinc137 @mhluongo @AchimLittlepage @__padpad @the_matter_labs @JHancock @jadler0 @fuellabs_ @MicahZoltu @AugurProject @epheph @gnidan @trufflesuite @algo_class @Columbia @KaushikDonthi @nethermind @EugeneDVV @beepools @PanteraCapital @bloXrouteLabs @0xHorizonGames @banklessDAO @Mining_DAO Yeah, not trying to argue against it - trying to dig deeper into the "why"

some pushback is absolutely reasonable, but how EGL makes colluding easier?
rn 3 pools do whatever, even against explicit opinion of core devs, and nobody knows if it's in the best interest or ETH

[the 🦅EGL🦅 project @ETH_EGL]

@luigyGT @PhABCD @quentinc137 @mhluongo @AchimLittlepage @__padpad @the_matter_labs @JHancock @jadler0 @fuellabs_ @MicahZoltu @AugurProject @epheph @gnidan @trufflesuite @algo_class @Columbia @KaushikDonthi @nethermind @EugeneDVV @beepools @PanteraCapital @bloXrouteLabs @0xHorizonGames @banklessDAO @Mining_DAO Can we chime in?
we're not making it "easier" for mining pools to collude, since the top-3 pools have over 50% of the hashrate and they all know each other?

the only difference it will be transparent what the community wants, and whether they do it

and why pools be the largest?